FED: "FED'S MUSALEM: GRADUAL RATE INCREASES ARE LESS COSTLY
Aug-06 21:53
"FED'S MUSALEM: GRADUAL RATE INCREASES ARE LESS COSTLY THAN MORE "ABRUPT' RATE CHANGES FED'S MUSALE...
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GOLD: Gold Down on USD/UST; Downward Pressure Likely Ahead of the FED
Jul-07 21:52
- Gold fell overnight as markets await the FED's June minutes. Concerned with the potential for a hawkish outlook, markets are looking for signs that may suggest rates are either higher for longer, or set to be raised.
- A surge in UST yields and a strong night for the USD didn't help gold either as attacks in Iran by both sides re-ignited oil prices and inflationary concerns.
- Providing a floor for prices, China’s central bank June purchases were up, with the PBOC buying 480,000 troy ounces and their holdings rising to 75.44 million ounces last month, according to data released on Tuesday. The purchase is the largest since October 2023, and brings the buying streak to 20 months.
- This PBOC news was enough to temper gold's fall yet it finished the day down -1.4% at US$4,105.
- The falls came despite some ST momentum indicators still suggesting upward momentum. The declines take bullion clearly below all major moving averages with $4,100 the next key technical level.
- Expect gold to trade in a relatively tight range today of around $4,150 -$4,000 with a moderately bearish momentum as markets await the FED.
ASIA: Coming Up In Asia Pac Markets On Wednesday
Jul-07 21:42
| 0000BST | 0700HKT | 0900AEST | South Korea May Goods Balance/Current A/C |
| 0001BST | 0701HKT | 0901AEST | UK S&P Global, KPMG, and REC Report On Jobs |
| 0050BST | 0750HKT | 0950AEST | Japan May Trade Balance BoP Basis |
| 0050BST | 0750HKT | 0950AEST | Japan June Bank Lending |
| 0200BST | 0900HKT | 1100AEST | RBA's Hunter-Speech |
| 0200BST | 0900HKT | 1100AEST | Australia 2036 Bond Sale |
| 0300BST | 1000HKT | 1200AEST | RBNZ Official Cash Rate |
| 0400BST | 1100HKT | 1300AEST | RBNZ Governor Breman's Press Conference |
| 0430BST | 1130HKT | 1330AEST | Japan 6mth Bill Sale |
| 0600BST | 1300HKT | 1500AEST | Japan June Eco Watchers Survey |
Source: Bloomberg Finance L.P./MNI
ASIA: Government Bond Issuance 08 JULY 2026
Jul-07 21:30
- Bank of Korea to Sell 700 Bn Won 1-Year Bonds
- Vietnam to Sell VND500 Bn 3.4% 2029 Bonds
- Vietnam to Sell VND500 Bn 4.4% 2056 Bonds
- Vietnam to Sell VND4 Trillion 2031 Bonds
- Vietnam to Sell VND8 Trillion 4.1% 2036 Bonds
- Vietnam to Sell VND1 Trillion 4.1% 2041 Bonds
- China To Sell 5-Year Additional Bonds
- China To Sell 10-Year Additional Bonds
- China To Sell 63D T-bills
- Thailand to Sell 8 Bn Thb of 2055 Bonds
- Malaysia to Sell MYR1.5 Bn 183-Day Bills
- China to Sell 90 Bn Yuan 1.72% 2036 Bonds
- India to Sell 90 Bn Rupees 91-Day Bills
- India to Sell 80 Bn Rupees 182-Day Bills
- India to Sell 70 Bn Rupees 364-Day Bills
- Bank Indonesia to Sell 31-Day Dollar Sukuk Bills
- Bank Indonesia to Sell 276-Day Dollar Sukuk Bills
- Bank Indonesia to Sell 95-Day Dollar Sukuk Bills
- Bank Indonesia to Sell 185-Day Dollar Sukuk Bills
- Bank Indonesia to Sell 367-Day Dollar Sukuk Bills
